PLIGHT OF FARMERS.

Auckland Star, Volume LXII, Issue 45, 23 February 1931, Page 9

PLIGHT OF FARMERS.

CAPITAL AND LABOUR FIGHT.

REDUCTION IN COSTS CLAIMED

CONTROL OF PRODUCE PRICES

(By Telegraph.—Own Correspondent.)

GISBORNE, this day.

| While capital and labour fought, the farmer, who acted as a buttress between the two, received all the blows and the two combatants came off unscathed. This was the manner in which Mr. F. S. Bowen, president of the Farmers' Union, described the present financial position of the country. Mr. Bowen said they had to congratulate Mr. Forbes on his courageous policy, which, however, had not gone far enough in regard to the control of the price of produce. The cause of the present depression was the low prices of farm produce.

| The speaker pointed out that farm mortgages amounted to £99,000,000, with £55,000,000 in overdrafts. If interest came down one per cent on this what a great difference it would mean to the Dominion. The figlit to-day was between capital and labour with capital having the upper hand. However, neither was hurt a great deal for they fought with the farmer in between. The farmer got scratched to pieces and the other two came off unscathed. The capitalist lived on his interest and labour received the dole. If farmers were sold up to-day 80 per cent of them, Mr. Bo wen declared, would be bankrupt. The farming community must be placed on a better footing by the reduction of interest rates and, o'f course, reductions in labour cost and Customs duties. Otherwise farmers would have to walk off their farms.